The Debt Free Roll Of Honour

Scottish_Banana

Hi
I'm a long time lurker on the site but just joined up to participate in a challenge so thought I would add my DFW results to the board.

a. The date of your lightbulb moment
Not really a moment, just a "let's get this paid asap" feeling
b. Debts at their highest
£10000
c. Debt-Free Date
2009
d. Your one perl of wisdom.
Since repaying our loan (which was for an extension to the kitchen) we save the equivalent sum of a monthly payment into an account which we then use to buy things we would probably take out a loan for - large household purchases, cars etc
e. Links to the MSE guides that helped you
f. Which forum threads helped you
Old Style Money Saving was great for ways to save the pennies
g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it
Didn't do this, sorry.

Thanks
Banana x

Former_MSE_Andrea

We're so pleased to announce 115 of you cleared your debts in 2015. That figure may well change in the future as we welcome newbies to the Forum and Debt Free Wannabe board but for those that worked so hard and succeeded in 2015

Huge Congratulations!!!

fermi

Awesome total. DFWs should be very very proud.

BrandNewStart

The date of your lightbulb moment: Christmas 2013. For the first time I had started to be unable to pay bills.
b. Debts at their highest £19,999
c. Debt-Free Date 5th January 2016
d. Your one pearl of wisdom. Be grateful for the things you have and don't compare yourself with others!
e. Links to the MSE guides that helped you
Budget Planner
Mental Health and debt guide
Help with debt problems

f. Which forum threads helped you
Debt-Free Wannabe
g. And if you had a debt diary on the Debt-Free Wannabe board (DFW), a link to it
Back for Good

This has taken two years. I started with CAP in January 2014. There have been some tough times along the way, notably sometimes running out of money! I have learned a lot from this though. Apologies for reproducing the first part of this from my Diary thread:

I have been in debt one way or another since 1999 when I left Uni about £500 overdrawn. So it has always been a cloud hanging over me really. I hope it's going to feel really good to be able to save money and move my life forward. Maybe go on holiday, when I've got enough!

Just the idea of going to work and being rewarded rather than having to spend all my money on repayments is so exciting.

I've learned a lot over the past 2 years.

Stuff I have learned

I can be OK even when I'm broke.
I CAN be disciplined with money
I used to spend money on lots and lots of things I didn't need
CAP are brilliant and have been such a help
No-one is bothered if I can't afford something
Most people get by on a lot less than me - I am very fortunate
It is better to be honest and own your mistakes. People respect you for it
Lots and lots of people have money worries - you are not alone!

I know a lot of that is perfectly obvious to some people but for me, even though I knew most of the above intellectually, I didn't feel it. I suspect I have been living under a burden for a long time without really realising the effect it has had.

So, today, I feel knackered! I got home last night and had a bit of a moment. This has been going on for what seems like a really long time. I still can't quite believe I've done it. I am no longer in debt. I keep expecting someone to ring me up and tell me I haven't quite finished yet.... but I have.

Things I want to do in the short term:

• Fill my car (which as of yesterday I own outright) up with petrol (haven't done this for 2 years!)
• Buy some clothes to replace ones with holes in (ditto!)
• Plan a proper, sensible, reasonably priced relaxing break!
• Buy my parents dinner. They have been amazing.
• Get a little something for the people at CAP.

Although I have been a sporadic poster on here due to a crazily busy and all-consuming job, I would also like to thank everyone who has said something nice / supportive over that time, and Martin and the MSE team for being here and providing so much help.

Cheers all

BNS

Ellieseleven

Well Done to you all, I love this happy thread;) It always motivates me and my goal is to be able to post on here in the not too distant future:j

...and if you haven't already added your total paid in 2015 to our thread "How much have you paid off in 2015", here's the link:

https://forums.moneysavingexpert.com/discussion/5385527

We're trying to beat last year total, so pop over and add your bit:)

Thanks
Ellie xx

joe_mcclaine

Didn't notice this thread, but if it gets me a badge ...

I paid off my mortgage in December 2013 and haven't had a credit card debt since the World Cup in France 98.

Never had a loan, ever.

Now working on building up enough of a pot to let me play golf without pesky work getting in the way!

mothernerd

a) Light bulb moment 23/12/2013. Spent over £100 on clothes - really needed them but could only put them on cc. Then felt overwhelmingly guilty as this was enough to provoke a crisis situation.


b) Debt at highest £85,400.73 (£10,400.73 credit cards, £75,000 family 'loan')


c) Debt Free 11/01/16. Mortgage free since 1982.


d) keep going wi't yed down (keep going with your head down)


e)Debt free wannabee diaries and challenges. OS singlies (wonderful support)


f) NSK/ NST challenges. Monthly challenges by Ninja Savings Kat morphed into Ninja Savings Turtles when Kat paid off her debts and saved enough to set off on her travels.

rochey1098

The date of your lightbulb moment
August 2014

Debts at their highest
16k

Debt-Free Date
17/01/2015

Your one perl of wisdom.
Have a plan and stick to it, only spend on the important things, forget about what kind of lampshade defines you as a person lol. Rotate those credit card balances onto a balance transfer deal and pay them off last

koselur

Lightbulb moment: March 2015
Debts at their highest: £3600
Debt free: Jan 2016 (actually just before Christmas but wanted to make sure I could stay in the black for a month first!).


Pearl of wisdom - have faith in yourself, you can do it! I thought it would take a lot longer. Be honest with yourself and the people around you - if you're paying off debt keeping up appearances has to come second.


Thanks so much MSE dwellers - you have helped me enormously

Portia82

Lightbulb moment - September 2009 when I was refused a loan to consolidate my debts. This was actually a blessing in disguise as I was forced to confront the extent of my debts and admit that I was drowning.
Debts at their highest - £17,000.
Debt free - 18th August 2013.

Pearl of wisdom - your debts didn't happen overnight so clearing them is going to take time. It's not a moral failure to be in debt (though I had one dreadful "advisor" at citizen's advice imply that it was - I left that meeting in tears).
Accept help where it is needed. Stepchange were wonderful. But the best advice came from here. I was very much a lurker rather than a commenter (under a different user name), but seeing that I was not alone was incredibly helpful.
I have completely reassessed my thinking in regards to money, and I'm a saver rather than a spender now.
MSE helped me so much - thank you!